Invesco Ltd. Raises Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Invesco Ltd. raised its stake in shares of QuinStreet, Inc. (NASDAQ:QNST) by 177.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 946,108 shares of the technology company’s stock after buying an additional 605,500 shares during the quarter. Invesco Ltd.’s holdings in QuinStreet were worth $21,827,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Arcadia Investment Management Corp MI purchased a new position in QuinStreet in the 4th quarter valued at about $38,000. KBC Group NV lifted its stake in shares of QuinStreet by 64.5% during the 4th quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock worth $82,000 after purchasing an additional 1,396 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of QuinStreet by 43.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company’s stock worth $88,000 after purchasing an additional 1,162 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of QuinStreet in the fourth quarter valued at $112,000. Finally, BankPlus Trust Department acquired a new position in QuinStreet in the fourth quarter valued at $198,000. 97.83% of the stock is owned by institutional investors and hedge funds.

QuinStreet Trading Up 2.6 %

NASDAQ:QNST opened at $16.07 on Friday. QuinStreet, Inc. has a twelve month low of $14.39 and a twelve month high of $26.27. The firm has a market capitalization of $907.46 million, a price-to-earnings ratio of -73.05 and a beta of 0.91. The firm’s fifty day simple moving average is $18.24 and its 200 day simple moving average is $20.53.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Thursday, February 6th. The technology company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. On average, analysts predict that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other news, CFO Gregory Wong sold 8,516 shares of QuinStreet stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total transaction of $194,846.08. Following the sale, the chief financial officer now directly owns 337,031 shares of the company’s stock, valued at approximately $7,711,269.28. The trade was a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas Valenti sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total value of $250,200.00. Following the completion of the transaction, the chief executive officer now owns 1,836,754 shares in the company, valued at approximately $45,955,585.08. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Lake Street Capital upped their price objective on shares of QuinStreet from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Barrington Research reaffirmed an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a research note on Wednesday, March 26th. StockNews.com raised shares of QuinStreet from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, B. Riley reaffirmed a “buy” rating and issued a $34.00 target price (up from $32.00) on shares of QuinStreet in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, QuinStreet currently has an average rating of “Moderate Buy” and a consensus price target of $29.80.

QuinStreet Profile

QuinStreet, Inc, an online performance marketing company, provides customer acquisition services for its clients in the United States and internationally. The company offers online marketing services, such as qualified clicks, leads, calls, applications, and customers through its websites or third-party publishers.